Image credit: Mimi Thian on Unsplash
Some companies choose to manually enter invoice data into their financial system, because they’re worried about data accuracy.
So, they end up spending $15 on average (or up to $50 for complex invoices) for invoice processing. And AP clerks are stuck doing data entry for 60-80% of their day, every day.
There’s a much better way.
Contexture uses industry-leading OCR technology with built-in AI and machine learning to automate the process.
Digitize hundreds of invoices in seconds – accurately.
If Contexture doesn’t detect a 95%+ accuracy rating, the invoice will be flagged for human review by our team or yours if you prefer – to absolutely ensure the data is correct.
On a daily basis, our team of human verifiers turns around hundreds of invoices for each of our clients, and their AP clerks only need to review “actual” invoice exceptions in our cloud platform.
These might be invoices that are missing PO numbers (or other required items), duplicate invoices, or invoices that don’t come from an approved vendor.
Boost AP efficiency while improving accuracy and lowering invoice processing costs. And benefit from our 99.5% data quality guarantee.